Is your business using the cloud? People often talk about it, so you may wonder what it is and how it can help your business. The cloud refers to a network of servers that runs programs, stores data and performs other functions.
These systems are widespread, so you’re probably already using them to some degree. If you check your company’s emails through a webmail client, you’re using the cloud. If you store any of your data through an online service, that’s the cloud, too.It also includes more advanced applications, like cloud ERP systems. These platforms help you manage your business functions from one intuitive interface.
Now that you know what the cloud is, you may be curious to learn more about it. Here are five cloud statistics you can’t afford to miss.
1. Size of the Cloud Market
By 2019, the global market for cloud services is predicted to be worth more than $141 billion. The market is so large because businesses see the value of using cloud services. Solutions like cloud ERP systems allow you to store your business’s information in one convenient location, which saves both time and money.
Using cloud services means your business can leave behind the inefficient methods of the past. You don’t need to worry about sorting through large stacks of paperwork or searching through your computer’s folders to find the information you need.
2. Cost Savings in the Cloud
One of the more exciting cloud statistics relates to cost savings. After moving to the cloud, 82 percent of companies report they saved money. This is a good reason to consider adopting a cloud ERP system. When you use these platforms, your processes will become more efficient, and you’ll be able to get more work done without hiring more employees or paying overtime.
A cloud ERP system can help you save money in other ways, too. Since it stores your business’s information in one place, inter-departmental communication will improve. More effective interactions help reduce errors, which can save businesses a lot of money.
3. Security in the Cloud
More than half of the companies that use the cloud say they store confidential or sensitive data there. This can include information about customers, billing, marketing campaigns, inventory, and other private data.
However, cloud services vendors build their reputations on protecting their clients’ information. As a result, they take extensive precautions to protect data. These include measures like restricting physical access to servers, encrypting backups, and undergoing external audits, among others.
4. Data in the Cloud
There’s a lot of data stored in the cloud, and companies upload more every day. It’s estimated there’s about one exabyte of data stored in the cloud, which is equal to one billion gigabytes. This number is astronomical, and it’s hard to fully grasp how much data is in the cloud.
Businesses can use the cloud to manage their key applications, so it’s no wonder there’s so much data stored there. You can track the inventory you have in multiple locations, keep an eye on every product in your catalog, and even monitoryour customers and their orders.
5. Business Improvements with the Cloud
Within six months of moving to the cloud, 80 percent of businesses report improvements in their processes. Since the ERP systems offer centralized storage, they can help companies perform better. They make it easier cut out inefficient practices and allow information to flow freely.
Cloud services offer a host of advantages that other platforms can’t match. They’re scalable and adaptable, so as your newfound efficiency helps your business grow, your services will keep up.